This paper studies an agent-based model that bridges Keynesian theories of demandgeneration and Schumpeterian theories of technology-fueled economic growth. We employ the model to investigate the properties of macroeconomic dynamics and the impact of public polices on supply, demand and the “fundamentals” of the economy. We find that the complementarities between factors influencing aggregate d...

Organizations are under competitive pressure to innovate and at the same time efficiently execute their strategy, and have been implementing enterprise resource planning (ERP) solutions to aid in the achievement of their goals. Sambamurthy, Bharadwaj, and Grover (2003) describe the capability of simultaneous innovation and efficient execution as agility, and they propose a model of information ...

This paper describes simple ‘Schumpeterian games’ that help to explore the microfoundations of (national) innovation systems and the related policy issues. Thus it tries to marry the Schumpeterian approach to innovation and imitation with the simpler but very powerful results of evolutionary game theory. The paper identifies several roles and subgames in an innovation system, based on the playe...

Entrepreneurship policy mainly aims to promote innovative Schumpeterian entrepreneurship. However, the rate of entrepreneurship is commonly proxied using quantity-based metrics, such as small business activity, the self-employment rate, or the number of startups. We argue that those metrics give rise to misleading inferences regarding high-impact Schumpeterian entrepreneurship. To unambiguously...

TOWARD A NEO-SCHUMPETERIAN THEORY OF THE FIRM

Although the identification and exploitation of opportunities is central in many modern theories of entrepreneurship, empirical investigations of opportunity types are scarce. This paper empirically explores the distinction between Schumpeterian and Kirznerian opportunities by analyzing survey data of 184 high-tech small business entrepreneurs engaging in opportunity exploitation. First, a mult...

This paper investigates the relevance of government purchasing behavior for innovationbased economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy’s rate of technological change. We incorporate results of various empirical studies arguing that public sector demand acts as incentive for private innovation a...